Shari Redstone Insists Colbert Cancellation Not Tied to Skydance Deal
Shari Redstone, the former chair of Paramount Global, recently defended CBS’s decision to cancel “The Late Show With Stephen Colbert,” stating that late-night TV is a money-losing venture. Redstone, who exited her family’s ownership of the media conglomerate this summer in a sale to Skydance Media, made these comments at the Axios Media and Trends Live conference in New York.
According to Redstone, the cancellation of Colbert’s show was not influenced by the Trump administration’s approval of the Paramount-Skydance deal. She explained that the financial viability of late-night programming had been a concern for some time, leading to the decision to end Colbert’s show. Redstone praised Colbert for his work but emphasized the need for CBS to prioritize financially sustainable businesses, citing the cancellation of James Cordon’s “Late Late Show” as another example.
Despite winning the Emmy for outstanding talk series earlier this week, “The Late Show With Stephen Colbert” is set to end in May 2026, with no plans for a continuation of the franchise. Redstone also declined to comment on ABC’s decision to pull Jimmy Kimmel off the air, highlighting the importance of thoughtful programming in a politically divided landscape.
Addressing Paramount Global’s $16 million settlement with President Trump over a lawsuit involving “60 Minutes,” Redstone defended the decision as necessary to avoid distractions and disruptions to the company. She emphasized the importance of settling the case quickly to prevent prolonged legal battles and potential defamation threats.
Regarding Paramount’s elimination of diversity, equity, and inclusion (DEI) programs, Redstone acknowledged the importance of addressing DEI issues but suggested that the execution of such programs had led to more problems than solutions. She expressed a commitment to creating a more effective approach to diversity and inclusion within the company.
In discussing the state of TV news, Redstone highlighted the need for balanced and fact-based reporting, emphasizing the importance of separating opinions from facts. She called for greater accountability and standards in news reporting to address the challenges of misinformation and bias in the media landscape. Redstone’s insights shed light on the complexities of the media industry and the ongoing efforts to navigate financial, social, and political challenges in the ever-evolving media landscape. In a recent statement, media mogul Shari Redstone emphasized the importance of checks and balances in journalism, highlighting the need for factual reporting over opinion-based news. Redstone expressed disappointment over CBS News’ handling of anchor Tony Dokoupil’s interview with author Ta-Nehisi Coates, which led to a rebuke from the network. She commended the appointment of Susan Zirinsky as an executive editor at CBS News, stating that her presence has brought about positive changes in the newsroom.
Redstone also praised CBS News’ decision to appoint former Trump adviser Kenneth Weinstein as an ombudsman to address allegations of bias within the news division. She expressed hope that the new leadership at Paramount Skydance, led by David Ellison, would uphold journalistic integrity and continue to produce impactful content. Redstone lauded the company’s culture and legacy of creating great content, expressing confidence in the future of the organization.
One potential development on the horizon is the acquisition of The Free Press, a conservative-leaning newsletter outlet headed by Bari Weiss, by David Ellison. Redstone expressed support for Weiss as a valuable voice in the media landscape, emphasizing the importance of diverse perspectives in news reporting. Paramount+ has emerged as a major player in the streaming industry, with Redstone highlighting the company’s success and positioning for future growth.
Reflecting on the complex merger process between Paramount and Skydance, Redstone expressed gratitude for her colleagues and excitement for what the future holds. She encouraged unity and proactive engagement in shaping a better world, stressing the power of collaboration and collective action. Redstone recently announced an investment in Israeli entrepreneur Emilio Schenker’s production banner, Sipur, and will serve as chair on its board of directors.
In conclusion, Shari Redstone’s commitment to journalistic integrity, diversity of voices, and innovation in media underscores her vision for the future of the industry. With a focus on creating impactful content and fostering a culture of excellence, Redstone’s leadership sets a strong foundation for continued success in the evolving media landscape.
